Japan's economy logged a third quarter of growth in the three months ending June, but the increase was much smaller than expected.
The economy grew 2.6 percent on an annualized basis in the April to June quarter, lower than 3.6 percent growth forecast according to Reuters and follows the 4.1 percent growth in the first quarter, government data showed on Monday.Quarter on quarter growth came in at 0.6 percent, versus expectations of 0.9 percent and compared to the 1 percent figure logged in the first quarter.
The figures are seen as an important indicator in determining whether the government moves forward with plans to raise the consumption tax in April 2014, say economists. The decision is expected to be made on September 9 following the release of revised second quarter gross domestic product data.
Source NewsOnJapan
The figures are seen as an important indicator in determining whether the government moves forward with plans to raise the consumption tax in April 2014, say economists. The decision is expected to be made on September 9 following the release of revised second quarter gross domestic product data.
Source NewsOnJapan
